Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
One thought on “SCANS FOR WEEK OF – DECEMBER 31, 2018”
NEWTON, Mass.–(BUSINESS WIRE)–Government Properties Income Trust (Nasdaq: GOV) today announced that it has completed its merger with Select Income REIT (Nasdaq: SIR).
After the effective time of the merger, the combined company changed its name to “Office Properties Income Trust” and effected a 1-for-4 reverse split of its outstanding common shares such that every four common shares of the combined company will be converted into one common share of the combined company. The company will begin trading on the Nasdaq on a split adjusted basis under the ticker symbol “OPI” on January 2, 2019.
GOV also announced that it amended its business management agreement with its manager, The RMR Group LLC, the majority owned operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), which the Compensation Committee of GOV’s Board of Trustees approved. Pursuant to the amendment, for periods beginning on and after January 1, 2019, the business management agreement will use the SNL U.S. Office REIT Index, rather than the SNL U.S. REIT Equity Index, to calculate the benchmark return per share for purposes of determining the incentive management fee, if any, payable to The RMR Group LLC. Measurement periods prior to January 1, 2019 will continue to use the SNL U.S. REIT Equity Index. Please see GOV’s Annual Report on Form 10-K for its fiscal year ended December 31, 2017, for additional detail on the incentive management fee.
Comments are closed.